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Article
Publication date: 8 August 2024

Michela Cesarina Mason, Silvia Iacuzzi, Gioele Zamparo and Andrea Garlatti

This paper looks at how stakeholders co-create value at mega-events from a service ecosystem perspective. Despite the growing interest, little is known about how value is…

589

Abstract

Purpose

This paper looks at how stakeholders co-create value at mega-events from a service ecosystem perspective. Despite the growing interest, little is known about how value is co-created through such initiatives for individual stakeholders and the community.

Design/methodology/approach

Drawing on institutional and stakeholder theory, the study focuses on Cortina 2021, the World Ski Championships held in Italy in February 2021. It investigates how multiple actors co-create value within a service ecosystem through qualitative interviews with key stakeholders combined with the analysis of official documents and reports.

Findings

The research established that key stakeholders were willing to get involved with Cortina 2021 if they recognised the value which could be co-created. Such an ecosystem requires a focal organisation with a clear regulative and normative framework and a common cultural basis. The latter helped resilience in the extraordinary circumstances of Cortina 2021 and safeguarded long-term impacts, even though the expected short-term ones were compromised.

Practical implications

From a managerial point of view, the evidence from Cortina 2021 shows how a clear strategy with well-defined stakeholder engagement mechanisms can facilitate value co-creation in service ecosystems. Moreover, when regulative and normative elements are blurred because of an extraordinary circumstance, resource integration and value creation processes need to be entrusted to those cultural elements that characterise an ecosystem.

Originality/value

The study takes an ecosystemic approach to mega-events to explore value creation for the whole community at the macro level, not only at the individual or organisational level, even during a crisis, which greatly impaired the preparation and running of the event.

Details

Management Decision, vol. 62 no. 13
Type: Research Article
ISSN: 0025-1747

Keywords

Available. Open Access. Open Access
Article
Publication date: 2 April 2021

Emanuele Padovani, Silvia Iacuzzi, Susana Jorge and Liliana Pimentel

This paper explores how global pandemic crises affect the financial vulnerability of municipalities.

6170

Abstract

Purpose

This paper explores how global pandemic crises affect the financial vulnerability of municipalities.

Design/methodology/approach

This paper is developed from the relevant literature an analytical framework to examine municipal financial vulnerability before a global pandemic crisis and in its immediate aftermath by mapping and systematizing its dimensions and sources. To illustrate how it can be used and evaluate its robustness and flexibility, such a tool was applied to Portugal and Italy, two countries that particularly suffered from the Covid-19 crisis.

Findings

The application of the analytical framework has shown how financially vulnerable municipalities are to global pandemic crises. Financial vulnerability relates to issues ranging from institutional design to internal financial conditions and the perception of the capacity to cope with a crisis. Results further reveal that vulnerability has an inherent contingent nature in time and space and can lead to paradoxical outcomes.

Research limitations/implications

This paper provides a tool that can be useful for both academic and public policy purposes, to further appreciate municipal financial vulnerability, especially during crises.

Practical implications

Municipalities can use the framework to better manage their financial vulnerability, strengthening their anticipatory and copying capacities, while oversight authorities can use it to help municipalities become less financially vulnerable or, at least, more aware of their financial vulnerability.

Originality/value

Municipal financial vulnerability to global shocks has not been explored extensively. Also, the Covid-19 pandemic is different from previous global crises as it affected society overnight with the implementation of lockdown and social distancing measures.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 33 no. 4
Type: Research Article
ISSN: 1096-3367

Keywords

Available. Open Access. Open Access
Article
Publication date: 1 October 2021

Silvia Iacuzzi

Considering the increased financial responsibility of local government (LG), the impact of global crises and the growing adoption of accrual accounting and common standards such…

8100

Abstract

Purpose

Considering the increased financial responsibility of local government (LG), the impact of global crises and the growing adoption of accrual accounting and common standards such as IPSAS, this work focuses on financial indicators for LGs. It explores whether the literature on financial indicators has grown, investigates whether there is any consensus on which indicators to use for assessing LG's financial condition, develops a critical reading of the literature and offers suggestions for future research and policy agendas.

Design/methodology/approach

A structured literature review was carried out for publications in English about LG financial indicators.

Findings

Results reveal that the number of publications dealing with financial indicators has increased over the past ten years. However, rather than focusing on a set of common indicators, the literature reports a plethora of different ones used for four main purposes: transparency and accountability compliance, performance monitoring and benchmarking, assessing LG's financial health and helping deal with exogenous crises. There is no evidence of convergence towards a common set of indicators, even though liquidity and solvency are the most popular dimensions explored by scholars.

Research limitations/implications

Findings highlight the challenges in converging on financial indicators, yet no claim can be made beyond the reviewed material.

Practical implications

Results provide legislators, public managers, investors and rating agencies with insights about trends in financial indicators, their benefits and limitations.

Originality/value

The article focuses on a less popular aspect of recent financial management reforms for local administration, that is the growing fragmentation in LG indicators, accentuated by the need for common assessment tools during unprecedented widespread crises across countries and sectors.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 34 no. 6
Type: Research Article
ISSN: 1096-3367

Keywords

Available. Open Access. Open Access
Article
Publication date: 23 December 2019

Andrea Garlatti, Paolo Fedele, Silvia Iacuzzi and Grazia Garlatti Costa

Coproduction is both a recurrent way of organizing public services and a maturing academic field. The academic debate has analyzed several facets, but one deserves further…

2498

Abstract

Purpose

Coproduction is both a recurrent way of organizing public services and a maturing academic field. The academic debate has analyzed several facets, but one deserves further analysis: its impact on the cost efficiency of public services. The purpose of this paper is to aim at systematizing the findings on the relationship between coproduction and cost efficiency and at developing insights for future research.

Design/methodology/approach

This paper is based on a structured literature review (SLR), following the approach proposed by Massaro, Dumay and Guthrie. The SLR approach differs from traditional narrative reviews since, like other meta-analysis methods, it adopts a replicable and transparent process. At the same time, when compared to most common meta-analysis or systematic review logics, it is better suited to incorporate evidence from case studies and etnographies. This makes the method especially suited to public administration and management studies.

Findings

Results shed light on the nature of the academic literature relating coproduction to cost efficiency, on what type of costs are affected and how and on the meaningfulness of productivity measures when public services are co-produced.

Originality/value

In times of fiscal distress for many governments, the paper contributes to research and practice in systematically re-assessing the effects of coproduction on public budgets.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 32 no. 1
Type: Research Article
ISSN: 1096-3367

Keywords

Available. Open Access. Open Access
Article
Publication date: 30 April 2020

Silvia Iacuzzi, Andrea Garlatti, Paolo Fedele and Alessandro Lombrano

This paper aims to set out the case for integrated reporting (IR) and its potential to lead to change in the public sector by examining it in practice and analyzing the challenges…

3684

Abstract

Purpose

This paper aims to set out the case for integrated reporting (IR) and its potential to lead to change in the public sector by examining it in practice and analyzing the challenges associated with its implementation.

Design/methodology/approach

The paper investigates the role of IR in the public sector through the development of a theoretical framework applied to a case study focused on the University of Udine in Italy.

Findings

IR can be considered more as an incremental than a groundbreaking transformation of existing arrangements and approaches. The analysis revealed that the vagueness, complexity and intrinsic discrepancy between the IR concept and its operationalization brought the University of Udine to challenge and debate the IR approach and ultimately, to reconceptualize and implement its own version that better fitted its strategic aims, its intended audience and its status as a public entity.

Research limitations/implications

The application of the findings to other contexts should be further investigated, while the analytical framework should be applied to different settings and could be enriched to add knowledge and sharpen the paradigms of integrated thinking and value co-creation. Moreover, the interviews focused on people directly involved in the preparation of the integrated report, excluding other stakeholders. Further research could explore their perceptions of IR and focus on their understanding of the IR as well as the value co-creation process.

Practical implications

The findings provide decision makers with insights about how IR can be promoted to enhance its impact on value co-creation. The key processes to be considered for a public organization are integrated thinking and value co-creation, while the key aspects to be investigated in an integrated report for the public sector are materiality and stakeholder engagement. Yet, the IR framework is missing indications on how to account for stakeholders' inputs, outputs and outcomes in a value co-creation process, which is fundamental in a public service logic.

Originality/value

The results shed further light on two fundamental phenomena in the public sector, namely, integrated thinking and value co-creation. The paper also answers the call for more empirical research on IR's rhetoric and practice and on its concrete role in the value creation process.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 32 no. 2
Type: Research Article
ISSN: 1945-1814

Keywords

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Article
Publication date: 3 June 2024

Stelios Terzoudis, Nikolaos Kontodimopoulos and John Fanourgiakis

The reduction of government expenditure in the healthcare system, the difficulty of finding new sources of funding and the reduction in disposable income per capita are the most…

206

Abstract

Purpose

The reduction of government expenditure in the healthcare system, the difficulty of finding new sources of funding and the reduction in disposable income per capita are the most important problems of the healthcare system in Greece over the last decade. Therefore, studying the profitability of health structures is a crucial factor in making decisions about their solvency and corporate sustainability. The aim of this study is to investigate the effect of economic liquidity, debt and business size on profitability for the Greek general hospitals (GHs) during the period 2016–2018.

Design/methodology/approach

Financial statements (balance sheets and income statements) of 84 general hospitals (GHs), 52 public and 32 private, over a three-year period (2016–2018), were analyzed. Spearman’s Rs correlation was carried out on two samples.

Findings

The results revealed that there is a positive relationship between the investigated determinants (liquidity, size) and profitability for both public and private GHs. It was also shown that debt has a negative effect on profitability only for private GHs.

Practical implications

Increasing the turnover of private hospitals through interventions such as expanding private health insurance and adopting modern financial management techniques in public hospitals would have a positive effect both on profitability and the efficient use of limited resources.

Originality/value

These results, in conjunction with the findings of the low profitability of private hospitals and the excess liquidity of public hospitals, can shape the appropriate framework to guide hospital administrators and government policymakers.

Details

Journal of Health Organization and Management, vol. 38 no. 4
Type: Research Article
ISSN: 1477-7266

Keywords

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Article
Publication date: 11 March 2021

Matteo Bocchino and Emanuele Padovani

Inter-municipal cooperation (IMC) has been increasingly adopted worldwide to tackle issues of size and cost reduction in the provision of public services. Although the…

319

Abstract

Purpose

Inter-municipal cooperation (IMC) has been increasingly adopted worldwide to tackle issues of size and cost reduction in the provision of public services. Although the determinants of cooperation among municipalities have been widely investigated in the prior literature, little is known about the link between a municipality's financial health and that of the supra-municipal entity formed under IMC. The purpose of this study is to fill this research gap by analyzing the case of municipal unions (MUs) in Italy.

Design/methodology/approach

A quantitative approach has been used, applying OLS and quantile regression on financial information and other variables of municipalities and their MUs.

Findings

The study finds that the most important condition of operation for IMC, that is, financial sustainability, is directly linked to the financial health of member municipalities and the functional integration reached with the supra-municipal entity.

Originality/value

The study analyses all MUs in Italy, focusing on the factors affecting their financial sustainability. In doing so, it sheds light on the factors that influence the financial sustainability of second-tier governments, which rely on external funding.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 33 no. 5
Type: Research Article
ISSN: 1096-3367

Keywords

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